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Friday, 14th August 2020
7:33:18am

Kenya sets a budget deficit of 7.5% of GDP in 2020/21 financial year

Kenya’s finance minister Ukur Yatani on Thursday set a budget deficit of 7.5% of GDP for the fiscal year starting in July, saying the coronavirus pandemic had upended the government’s plan to reduce reliance on debt.

“Our fiscal consolidation plan has been adversely affected by the events over the last six months,” Yatani told parliament as he presented the government’s budget, while also referring to the impact of a locust invasion and flooding.

-Reuters 

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